Fitch may downgrade US credit rating

Baku. 24 August. REPORT.AZ/ Fitch Ratings international rating agency on Wednesday said that a failure by U.S. officials to raise the federal debt ceiling in a timely manner would prompt it to review the U.S. sovereign rating, "with potentially negative implications."

Report informs citing the Fitch, Fitch, which currently assigns the United States its highest rating - "AAA" - said in a statement that the prioritization of debt service payments over other government obligations, should the debt ceiling not be raised, "may not be compatible with 'AAA' status."

Notably, at the next session of the US Congress, scheduled for September 5, it is necessary to reach a consensus on the level of funding for government agencies in 2018. This is necessary in order to avoid a temporary cessation of government work in October. Otherwise, financial markets will finally lose confidence in the US authorities, which can provoke a short-term crisis.